On 29 March, the Times of Malta reported that the Company Service Providers (Amendment) Act 2020 came into force on 16 March. The Malta Financial Services Authority has also launched the updated rulebook for CSP. It is said that changes extend to all types of legal persons and not just companies, removing previously applicable exemptions and de minimis rules, and impose farther reaching ongoing obligations and heftier penalties for non-compliance in a bid to raise standards within the sector.
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